So it’s that time of the week again, let’s take a look back on what’s been happening in the world of crypto this past week. Today, we’re going to be talking about the billions of XRP moved by an unknown whale, the Weiss Ratings apology to TRON and why we think Cardano is going to be a key player in the next bull run.
Because of the power that blockchain holds, looking over big transactions is no longer a chore. Just like bird watching and fishing, whale watching seems to becoming a popular hobby in the crypto space with hundreds of accounts popping up on social networks for the sole purpose of keeping an eye on the whales. Crypto whales are called as such because they move big volumes of value which have the potential to impact the markets in a huge way.
The Twitter account Whale Alert has just under 50k followers sends out tweets on a daily basis letting people know about the biggest movements of value. The red light emoji is used to indicate how big the whale is i.e. more red lights, the bigger the value.
See our full coverage of this story for yourself here.
Earlier this week, there were a couple of hundred million dollars worth of XRP moved which saw the account tweeting out ten red lights to their followers.
We’re sure you’ve heard about this one but just in case, we’ll cover it for you anyway. So if you read cryptocurrency news regularly, you will have probably heard of Weiss Ratings, the group that has been established to offer investment advice in essence. A part of this means that the group publish regular reports or ratings that rank cryptocurrency projects based on a number of categories. From their performance as an investment to their technological promise.
As we covered earlier in the week, it’s worth saying that “even though Weiss Ratings do this for a living, their advice is simply just advice, and you should not just invest in a project because they think it’s a good idea.” You should always remember to do your own research before investing.
In past, Weiss Ratings have given TRX a tough time but recently, the group took to Twitter to shed some light on the recent performance of TRX which has shone in the markets. TRON’s native token, TRX is a promising project which Weiss Rating seems to have confirmed earlier in the week.
Weiss Ratings took to Twitter earlier in the week to say:
“TRON hired a former SEC official to prove that crypto is not a scam. They suffered from the news that they had plagiarized code from Ethereum and other projects changing the file names to hide source code. Tron’s way to solve issues is to throw money at it.”
“We might give TRON a hard time every now and then, but give credit where credit is due: The TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied.”
Even though last year was a hard one for cryptocurrency, there are hopes that 2019 will hold something much more favourable for investors and traders alike.
When news broke about the Bitcoin ETF not happened, the market didn’t really react to the news which told us one of two things:
- The market isn’t affected by negative news anymore
- Bitcoin might not be shooting up for quite some time
One altcoin that looks set to outperform itself is Cardano. The digital currency has had a lot of positive news in the past and for the future, this seems to be continuing.
For example, as we reported on Wednesday, “the upcoming Shelley release is expected to happen in the first quarter of the year and aims to point the cryptocurrency in the right direction for decentralisation. This will drive demand as people move to stake Cardano.”
Cardano has the potential to see a significant amount of traction this year, but only time will tell.